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Alps Bpo Services Ltd.

BSE: 531924 Sector: IT
NSE: N.A. ISIN Code: INE098B01014
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Alps Bpo Services Ltd. (ALPSBPOSERVICE) - Director Report

Company director report

ALPS INFOSYS LIMITED ANNUAL REPORT 2002-2003 DIRECTOR'S REPORT To, The Members, Your Directors have pleasure in presenting the Eighth Annual Report of the company together with Audited Statement of Accounts for the year ended on 31st March 2003. (Rs. In Lacs) CURRENT PREVIOUS YEAR YEAR 2002-2003 2001-2002 1. FINANCIAL RESULT Profit / (Loss) before Depreciation 10.05 (37.19) Less: Depreciation 7.46 6.61 Profit/ (Loss) before Tax 2.59 (43.80) Provision for Income Tax 0.00 NIL Profit/(Loss) after Tax 2.59 (43.80) 2. OPERATION The company has made Profit of Rs. 2.59 Lacs on the total turnover of Rs. 126.24 Lacs. During the year under reference the turnover is further expected to grow in the year 2003-2004. 3. DIVIDEND In order to Built up Internal Reserves, no dividend has been recommended 4. DIRECTORS Shri S. S. Asokan is retiring by rotation and being eligible, offer himself for reappointment. Shri Mahipal S. Shah was appointed as additional director and is proposed to be appointed as director. Shri Sanjay T. Patel, Director of the company resigned during the year under View on account of personal reason. 5. ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE The information required under section 217(1)(e) of the companies Act, 1956 read with the companies (disclosure of particulars in the Report of the Board of Director) Rule, 1988. With respect to conservation of energy, the Total cost of power and fuel during the year are contained at minimum levels and hence no step was proposed for conservation of energy. 6. DEPOSITS The Company has not accepted any deposits from the public. 7. EMPLOYEES Information in accordance with sub- section (2A) of Section 217 of the companies act, 1956 read with companies (Particulars of Employees Rules, 1975 as amended and forming part this report is annexed to this report. 8. DIRECTORS RESPONSIBILITY STATEMENT: 1) The Directors confirm that, in preparation of the Balance sheet and the Profit and Loss account of the company, the applicable accounting standards have been followed along with proper explanation relating to material departures, subject to notes on accounts. 2) The Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March 2003 and of the Profit and Loss of the company for that period. 3) The Directors have taken proper and sufficient care for the maintenance of adequate accounting record in accordance with the provision of the Companies Act, 1956, for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. 4) The Directors have prepared the Annual Accounts on the basis of going concern concept. 9. REPORT ON CORPORATE GOVERNANCE: A report on corporate governance is annexed to this report and forms as a part of annual report of the company. 10. AUDITORS M/s. A. T. Macwan & Associates, Chartered Accountant, Ahmedabad retired as auditors of the company at the ensuing Annual General Meeting and being eligible, offer themselves for reappointment. 11. APPRECIATION Your Directors wish to place on record their appreciation of co-operation received by the company from banks arid grateful for the services rendered by the employees of the company. On behalf of the Board of Directors MUKESH J. PATEL Chairman and Managing Director Date : 30/08/2003 Place : Vadodara ANNEXURE D MANAGEMENT DISCUSSION AND ANALYSIS 1. Overall Review The overall performance during the year 2002-2003 has been satisfactory. 2. Financial Review The Sales for the year ended on 31st March 2003 was Rs.1,26,24,364/-. Interest expenditure was lower since the term loans were repaid and better working capital management The gross block of fixed assets as at 31st march 2003 was Rs. 1.33,58,0437- . 3. Internal Control System and their adequacy Consideration the size of the company, your company has adequacy system of internal control to provide reasonable assurance that assets are safeguarded and protected from unauthorized use or disposition. The internal audit is carried out by a firm of Chartered Accountants and reports reviewed by the management at regular intervals. 4. Business Environment The performance of the company for the year under review was satisfactory. The company is now planned to expansion in the business of IT Enable services and defense software in the Indian as well as overseas market. 5. Risk And Concern The building plan and machinery, vehicles and stocks of the company are adequately insured. 6. Cautionary Statement Statement in this report on management discussion and analysis may be forward looking statements with in the meaning of applicable security laws or regulations. These statements are based on certain assumptions and expectations of future events. Actual results could, however, defer materially, from those expressed or implied. Important factors that could make a difference to the company's operations include global and domestic demand supply conditions, finish goods prices, raw material cost and availability and changes in government regulation and tax structure, economic development with in India and the countries with which the company has business contacts and other factors such as litigation and industrial relations. The company assume no assumes no responsibilities in respect of forward looking statements which may be amended or modified in future on the basis of subsequent developments, information or events. For Alps Infosys Limited Mg. Director

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